The price of gold in Pakistan experienced a slight drop, easing by Rs800 per tola on October 25, 2024. This recent adjustment in 24-karat gold prices has brought its value to Rs282,300 per tola. Meanwhile, the cost of 10-gram 24-karat gold in Pakistan is now Rs242,027, down by Rs686. These trends reflect subtle shifts in the market, with similar global influences shaping the precious metal’s value.
For a closer look at the market, including insights into price movements and key influences, read on for a comprehensive analysis.
Gold Price Updates in Pakistan
Local Gold Price Changes
According to the Karachi Sarafa Association, Pakistan’s leading source of precious metal pricing, the cost of gold fell for 24-karat and 22-karat gold varieties:
- 24-Karat Gold: Currently priced at Rs242,027 per 10 grams, down by Rs686.
- 22-Karat Gold: Now listed at Rs221,858 per 10 grams, reflecting a similar decrease.
Stability in Silver Prices
Silver prices in Pakistan, however, saw no change, with 24-karat silver remaining steady at Rs3,350 per tola. This stability in silver rates comes amid fluctuations in gold prices, drawing interest among investors who monitor both metals.
Gold Prices on the Global Market
Internationally, gold prices traded near $2,726 per ounce, down by $8 from the previous trading session. This slight dip is mainly attributed to profit-taking by investors following the recent surge that led gold to reach an all-time high of $2,758.37 on October 23. Yet, tensions in the Middle East have provided some support to gold prices, as global uncertainties often increase demand for this precious metal.
Conclusion
Gold prices in Pakistan and worldwide reflect a mix of local economic conditions and global market trends. The recent drop in Pakistan’s gold price aligns with international adjustments, influenced by profit-taking and geopolitical tensions. Investors may find value in monitoring these trends closely, especially as uncertainties continue to impact market stability.
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